New York Casinos Stumble 2.2% YoY in June After Record-Breaking May

As New York officials mull numerous high-profile casino license applications, the state’s existing properties are on the decline.

The New York State Gaming Commission reported the state’s casino revenue fell to $55.1 million, a 2.2 percent drop from June 2024. That’s despite the continued rise of legal sports betting, which hit $206.5 million.

The state is expected to license three new casino operators before the end of the year once it finishes its application review process.

A rare misstep

The casinos’ performance was the third-worst of 2025 and the worst since February. Additionally, not only was it a 2.2 percent year-over-year decrease, it was the lowest June total since 2021 when COVID-impacted facilities accounted for $50.5 million in gross gaming revenue (GGR).

As is usually the case, slot machines were a cash cow for New York casinos, totaling $526.7 million in total wagers. The $41.8 million in slot machine revenue was a $700,000 year-over-year loss.

Table games showed a much sharper decline. Total wagers fell 9.1 percent to $69.4 million, while revenue plummeted 16.8 percent to $11.8 million. 

Retail sports betting also contributed a fairly insignificant amount compared to online sportsbooks, accounting for just $677,400 in revenue from a $3.8 million handle. 

Casinos combined to pay $13.9 million in gaming taxes to the state government. Net revenue settled at $41.3 million, a three percent year-over-year drop.

Sportsbooks typically become much less popular during the summer months because of the lack of sports events. Casinos don’t face the same issue, although they can be impacted by vacation season and better weather pushing people to outdoor activities.

Poised for future growth

While the casinos’ June performances may not have been what they hoped for, they come immediately after a record-setting month of May. Online GGR reached $248.9 million, while retail casinos contributed $176.4 million to the state’s revenue total. 

Once the three casinos are licensed later this year, those totals will inevitably increase by a significant amount. Suitors for the properties plan to build the facilities in different locations around New York, including Queens, Times Square, The Bronx, Manhattan, and more.

All eight groups pursuing a license paid $1 million in application fees. If approved, they will pay $500 million upfront for the official license.

Revenue estimates vary for each proposal, though they all estimate about $1-2.5 billion in annual revenue. That would result in about $300-750 million in annual tax contributions per casino using a 30 percent tax rate, which three of four upstate casinos currently pay for slot and electronic table games. 

New York has also proven it can thrive despite levying a heavy tax burden. Its 51 percent tax on online sports betting GGR is the joint-highest in the nation, yet its sports betting market produces the highest handle and revenue total nearly every month.